A 10-year zero-coupon bond with a face value of $5,000,000 has the current yield on the portfolio is 10% per annum. This bond matures 10 years from today.

What would be the price of the bond if the yield were 9% instead if the yield per annum is quoted as annual compounding? Round to two digit below decimal in terms of the nearest million dollars.

Question 18 options:

	$1.66 million dollars
	$1.76 million dollars
	$1.84 million dollars
	$1.93 million dollars
	$2.03 million dollars
	$2.12 million dollars